Putnam FL Investment Management Co. cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 8.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 229,813 shares of the home improvement retailer’s stock after selling 21,914 shares during the period. Lowe’s Companies makes up approximately 2.0% of Putnam FL Investment Management Co.’s portfolio, making the stock its 10th largest position. Putnam FL Investment Management Co.’s holdings in Lowe’s Companies were worth $18,893,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its stake in shares of Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Lowe’s Companies during the first quarter worth approximately $109,000. Hanson McClain Inc. boosted its stake in shares of Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the period. First Bank & Trust boosted its stake in shares of Lowe’s Companies by 11.5% in the first quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock worth $117,000 after buying an additional 147 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Lowe’s Companies during the first quarter worth approximately $119,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

Shares of Lowe’s Companies, Inc. (NYSE:LOW) traded down 0.41% during mid-day trading on Tuesday, reaching $73.50. The company had a trading volume of 1,602,299 shares. Lowe’s Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25. The stock has a market capitalization of $61.52 billion, a P/E ratio of 20.87 and a beta of 1.08. The company’s 50-day moving average is $75.99 and its 200 day moving average is $79.50.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by $0.05. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. Analysts anticipate that Lowe’s Companies, Inc. will post $4.50 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 46.20%.

TRADEMARK VIOLATION WARNING: This piece was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another site, it was illegally copied and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.watchlistnews.com/lowes-companies-inc-low-shares-sold-by-putnam-fl-investment-management-co/1529766.html.

A number of equities research analysts have commented on the company. Vetr cut Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 target price on the stock. in a report on Monday, May 8th. BMO Capital Markets reiterated a “buy” rating and set a $89.00 target price on shares of Lowe’s Companies in a report on Friday, May 5th. Credit Suisse Group set a $94.00 target price on Lowe’s Companies and gave the company a “buy” rating in a report on Tuesday, May 2nd. Zacks Investment Research cut Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC increased their target price on Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 12th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $84.57.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

Receive News & Ratings for Lowe's Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.